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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: fut_trade who wrote (1778)	12/7/1999 7:26:00 PM
From: fut_trade	Read Replies (1) \| Respond to of 19219

The 41 Nasdaq 100 companies in the SPX make up 19% of the index value.

To: fut_trade who wrote (1778)	12/8/1999 2:10:00 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

Peter, The wringing out of excesses has to commence sometime. Let it begin with Wed-NDX-day. Yes, that's right. The day of the week that NDX, COMP - TECH and NUTZ almost always go up. I will continue to key off BKX and UTIL. Tomorrow is critical as any further deterioration off of UTIL 275.91 new 52 week low locked in today, plus further breakdown of BKX 795 life support (now BKX 793) will only heighten the showdown between new age tech and old traditional interest sensitive issues. This widening gulf is like parting of the red sea and one of these two sectors is going to have an immediate magnetic pull on the other like nothing we have ever seen. TRAN 2,886 needs to hold TRAN 2,844. If TRAN closes below TRAN 2,844 level with BKX and UTIL lower tomorrow...... I will buy Dec QQQ puts whether this index is up or down during the day, if rate sensitive issues break again tomorrow. Ideally, look for some sort of rally and failure into resistance levels to buy into puts on QQQ. Best Regards, J.T.